General News
Leveraging Technology in the Logistic Industry
The Logistic industry is a multi-million Naira industry, but it is faced with a number of challenges. A number of Startups are trying to use technology to bring greater efficiency to the sector. One of such Startups is Kobo360.com, a Logistic platform, leveraging technology in the Logistic industry.
I recently had a chat with Obi Ozor, Co-Founder, Kobo360.com and he spoke at length on the problems and prospects of the Logistic industry.
Obi stated that the Logistic industry, from the African market perspectives, is worth about $300 billion.
He further emphasised that the industry has different branches, such as the e-courier, trucking and air and sea freight, but in Nigeria, we are more into the e-courier and trucking branches of the Logistic industry. “The trucking branch of the industry is about $80 billion across Africa, while in Nigeria, it is about $18 billion. The e-courier projection is about $2 billion”, he maintained.
Obi is of the opinion that, although, the reward derived from the Logistic industry is huge, so are the challenges therein, because, it is a tough line of business to venture into.
He said that he decided to venture into the Logistic business because, it is the heartbeat of any economy. He alluded to the importance of transporting the products from one point to the other, citing the example of the fact that the building of the railways in the USA, aided, in no small measure, the movement of goods during the industrial revolution.
He maintained that the Logistic is the foundation of economic development. “We know, of course that, if e-commerce and the new technology industry will flourish n our continent, we actually need to solve that underlying factor”, he stated.
Obi stated that his plans to use technology to in order to bring about change in the Logistic industry will come in phases.
“Of course, a Startup has limited capabilities. You don’t have some of the financing or experience, but from the little experience that we have, and our being open to learning, we know that there are few things that technology can do”, he reiterated.
He gave the example of how technology can bring about transparency in pricing in the e-courier sector of the Logistic industry. He also stated that, technology can assist in aggregating all the trucks available in the country in one place, for the people who need the services t access them easily.
Obi stated that those in e-commerce can, actually, not solve their Logistics problems alone, even though, just because they are investing in it as it is a wrong move on their part. “Logistic is big business that has serious challenges and one of the problems in Logistics is that, it requires serious execution and operations.
It is not an industry where you just an idea and you come in and things will start working”, he noted. He stated further, that, the Logistic industry should be left to solve the Logistic problems while the e-commerce operators need to trust them to solve it.
On cash or pay on delivery, Obi stated that this originated from India and we have copied it here in Nigeria, but we need to modify it to what works for us, such as looking for a safe place to make the exchanges of the deliveries and cash payments as the lives of dispatch riders are jeopardised on daily basis. He also stated that, many for the e-commerce companies do not have infrastructure in every part of the country, so, there is the need to work with government on this.
Talking about competition, Obi stated that the Startups , like his own, hope to hope to apply innovation to the business, to enable him to compete favourably with the big names in the industry.
He reiterated that that, one thing that his company has has, is the ability to listen and understand the problems and solving them, in conjunction with the stakeholders, of which the customers are a part.
He emphasised that, Logistic is too complex an industry for a single person or company to solve alone. He maintained that there is the issue of capacity, when it comes to Logistics, hence, all stakeholders must come together to solve those issues.
Speaking on how he intends to deal with user education in the Logistic industry, Obi stated that, although, it is a big problem, two-day a week sessions are, however, organised for drivers, free of charge, where they are taught and tested on basic understanding on how to operate all those expensive assets and customer service.
He stated that the easy design of the platform, with mostly clicks , with less texts to make it easy for the users to apply and operate and there is also theR & D, which is set to develop a voice only app, to make the users more comfortable, by bringing everything down to their level.
Mrs Yetunde Ilori, President of the Chartered Insurance Institute of Nigeria (CIIN), has commended the innovative and technology-driven solutions presented during the institute’s maiden Insurance Week Hackathon competition.
Ilori gave the commendation after the completion of the competition on Thursday in Lagos, held at the College of Insurance and Financial Management in Asese, Ogun, as part of the Insurance Week organised by the CIIN.
She described the solutions as crucial to the industry’s transformation and relevance in the digital age. “This shows that the future is bright for the Nigerian insurance industry.
We are transforming as an industry, and digital innovation is at the heart of that transformation,” Ilori said. She noted that 19 teams initially applied for the competition, but only six were shortlisted.
The competition, which targeted young Nigerians between the ages of 18 and 29, engaged six finalist teams over a fourweek intensive innovation process, culminating in a demo day on Wednesday in Lagos.
The hackathon focused on real-world challenges in the sector, such as inclusive insurance, fraud detection, risk management, and improving customer experience.
It was designed to cultivate the next generation of insurance innovators, deepen insurance awareness, and promote financial literacy among Nigerians.
The teams that participated in the final stage of the competition were: Ifokanbale, Insurbridge, Insurvate, Team Aegis, Team Phoenix, and The Assured Team. Team Aegis developed “Hustle Guard,” a microinsurance solution for tricycle drivers covering health, life, and income, in an effort to demystify micro insurance in Nigeria.
The Assured Team presented “Kolo Plus by Card,” an unstructured savings plan with payment and interest features tailored to low-income earners. Team Insurbridge created “Smarter Claims,” a solution aimed at improving the insurance claims process.
Team Phoenix introduced “HerShield,” a solution focused on empowering women and building trust in the insurance sector. The Assured Team also developed additional ideas to drive insurance penetration in underserved and informal communities.
After an engaging pitch session before a panel of judges, Team Insurvate emerged as the overall winner with its solution, “Claim Central”, an end-to-end digital platform designed to streamline the insurance claims process from policyholders to insurers.
Team Aegis secured second place, while Team Phoenix came in third. The panel of judges included financial sector experts such as Norah Igwe, Tunji Andrews, Diana Mulili, Sakeenat Bakare, Ibraheem Babalola, and Prince Adeshina Adeyemi-Doro.
Also speaking, Mr Eddie Efekoha, Chairman of the Insurance Week, said the hackathon demonstrated a conscious effort to explore how technology can help distribute insurance products to all parts of the country.
“We believe this initiative will spark more interest among the youth to engage with insurance, not just as consumers but as creators and innovators,” he said.
Speaking on behalf of the winning team, Mr Odunayo Ojeremi, leader of Team Insurvate, described the competition as highly competitive and rewarding. “We are excited and grateful for the opportunity.
“We didn’t expect to win, but we are glad our solution was recognised. We hope to improve ‘Claim Central’ and make it a platform that ensures seamless claims processing,” he said.
Enugu State-owned commercial airline, Enugu Air, is set to officially launch its operations today Monday, July 7, 2025. The launch ceremony will take place at the Akanu Ibiam International Airport, with the Minister of Aviation and Aerospace Development, Festus Keyamo, expected to attend alongside other dignitaries, according to a statement from the airline.
Dr Obi Ozor, Commissioner for Transportation, Enugu State, said Enugu Air is a key component of Governor Peter Mbah’s vision for a modern, integrated transportation system, aimed at positioning Enugu as a major aviation hub in Nigeria.
The airline will begin operations with a fleet of three Embraer jets, from the E170 and E190 series, chosen for their performance, passenger comfort, and suitability for regional routes.
The airline’s inaugural routes will form a strategic triangular operation connecting Enugu, Abuja, and Lagos, with plans to expand services to Port Harcourt, Owerri, Benin, Kano, and other key cities across Nigeria and beyond.
Ozor said, “With a strong foundation built on innovation and sustainability, Enugu Air is poised to transform regional air travel, boost state pride, and raise Enugu’s profile nationally and globally.”
The launch of Enugu Air is expected to have a significant impact on the aviation industry in Nigeria, providing more options for air travel and promoting economic development in the region.
With its modern fleet and strategic routes, Enugu Air is set to revolutionize air travel in Nigeria and establish Enugu as a major player in the country’s aviation sector.
In affirmation of its global standing, Cybervergent, a Pan-African technology company that leverages artificial intelligence to transform how organisations manage risk, governance, privacy, and cybersecurity, has been selected as one of the World Economic Forum’s (WEF) Technology Pioneers for 2025—a global cohort spotlighting companies transforming industries through breakthrough technologies and responsible innovation.
The WEF, an international organisation committed to improving the state of the world through public-private collaboration, brings together global leaders to shape economic, technological, and societal agendas. Cybervergent now joins this global community.
The company is recognized for its innovative approach to building digital trust, reimagining how organisations manage cybersecurity, risk, privacy and governance.
Commenting on the company’s milestone, Adetokunbo Omotosho, CEO of Cybervergent, said, “I am honoured that Cybervergent has been named a Technology Pioneer by the World Economic Forum. This is more than an accolade — it’s a validation of our commitment to redefining cybersecurity, privacy, and risk management to build true digital trust.
“What makes this recognition even more meaningful is the fact that Cybervergent demonstrates innovation in AI and infrastructure can emerge from any region, challenging conventional perceptions.”
Some past recipients of the Technology Pioneer recognition, including Google, Spotify, and Airbnb have gone on to fundamentally reshape global industries.
As a member of the 2025 Technology Pioneers community, Cybervergent will be contributing to discussions shaping cybersecurity, AI, and cyber resilience across industries and the global digital economy.
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